CFO4Life Group LLC Reduces Stake in Enbridge Inc (ENB)
CFO4Life Group LLC decreased its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.8% during the first quarter, HoldingsChannel.com reports. The firm owned 16,076 shares of the pipeline company’s stock after selling 630 shares during the period. CFO4Life Group LLC’s holdings in Enbridge were worth $583,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of ENB. Parkside Financial Bank & Trust increased its holdings in shares of Enbridge by 58.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 812 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 300 shares during the period. Front Row Advisors LLC grew its stake in shares of Enbridge by 3,985.7% in the 4th quarter. Front Row Advisors LLC now owns 858 shares of the pipeline company’s stock valued at $27,000 after buying an additional 837 shares in the last quarter. Csenge Advisory Group bought a new stake in shares of Enbridge in the 3rd quarter valued at approximately $28,000. Rockland Trust Co. bought a new stake in shares of Enbridge in the 4th quarter valued at approximately $28,000. Finally, We Are One Seven LLC bought a new stake in shares of Enbridge in the 4th quarter valued at approximately $28,000. Institutional investors own 56.43% of the company’s stock.
Shares of ENB traded up $0.14 during mid-day trading on Monday, hitting $37.33. The company’s stock had a trading volume of 3,766,844 shares, compared to its average volume of 3,617,955. Enbridge Inc has a one year low of $28.82 and a one year high of $37.69. The company has a current ratio of 0.58, a quick ratio of 0.49 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $75.20 billion, a price-to-earnings ratio of 18.21, a P/E/G ratio of 2.42 and a beta of 0.69.
ENB has been the subject of a number of recent analyst reports. Wells Fargo & Co reaffirmed a “buy” rating on shares of Enbridge in a research report on Monday, February 18th. Scotia Howard Weill cut Enbridge from an “outperform” rating to a “sector perform” rating in a research report on Monday, March 4th. Zacks Investment Research cut Enbridge from a “buy” rating to a “hold” rating in a research report on Wednesday, February 6th. Bank of America reaffirmed a “buy” rating on shares of Enbridge in a research report on Tuesday, March 5th. Finally, National Bank Financial raised Enbridge from a “sector perform overweight” rating to an “outperform overweight” rating in a research report on Wednesday, March 20th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $46.46.
In other news, insider William T. Yardley sold 14,900 shares of the stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $36.98, for a total value of $551,002.00. Following the completion of the sale, the insider now directly owns 94,770 shares of the company’s stock, valued at $3,504,594.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Cynthia L. Hansen acquired 799 shares of Enbridge stock in a transaction dated Friday, March 1st. The stock was acquired at an average cost of $49.13 per share, with a total value of $39,254.87. Following the completion of the transaction, the insider now directly owns 105,423 shares of the company’s stock, valued at approximately $5,179,431.99. The disclosure for this purchase can be found here. 0.42% of the stock is currently owned by corporate insiders.
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Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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